The sun. [volume] (New York [N.Y.]) 1833-1916, 1887-09-18

potent effect than the amount Of money Iiber-
the attitude % sss 8SSe
NO NEED or GOVERNMENT INTxRyEnBNor
MI ", Il. Male. President 81 tho late Union
aSfo Rsns 1nd now f the new
sSd y The
eys sns year peo 49, % svs ss
whom money % %at aaR
be borrowed At four per cent, per annurn. and
SO s to sa and
and The Hss ash sp
think tSs dSts q ths aoycrR pns ae
ns an ~ h sqy ana l
# the ae ess sna a IL ss s
sS.S Shs syii i good time and 81 anstaSs and
THE PRESENT SYSTEM DISTURBING ELEMENT.
The Hop. William H. Grace OF W. R. Grace
time lack q money ior leSitimsto business
prevailing high rate q interssf 4 Is due to
moe III taken ' S Mss
EEssssafy %!ss ssS Fissss ~
UNIQUE feature in financial hi stors;, quite
amply ACCOUNTS for the present dlfioplt
something out Of nothing; and such being the
iact, do not see how any present relief can
e c wSoy mot s
IN ns Put part Of
but we can have no permanent, relief. and the
money market cannot DO placed upon 9
overtaxation and surplus accumulation shall
have been abandoned or remedied. The next
now and tRsn n ns reasoa
has l!s as as
depend entirely upon legislative control, and.
although It may grow temporarily eas,ieI, We
money market. until the national Treasury
ceases to curtail the currency in circulation by
IA S n e scssns q and ss
which II has no outlet.
~ believe that the present system is not
HGe. but %ensy %s
trous results. both from a financial and an
oImed TSe s 9 M u.oes S Which
81 for ss Of Rs
and Without '0 Warrant RpHah
this revenue Is now collected, II the next Con-
Responsible before. the people. the same as
and improper policy"
MONEY NEVER 80 SEARCH.
Mr.. Lewis NJ. Hornthal Of Hornthal. White
i@1o tight II has s besn
sm Thse fas " n
lines Of loans In order that they can supply
Sho e o
$9a ssass. e esf Ss
afths Of the amount he asks for. The Prssi-
stes as Sv Possible While this ss si exists.
What are known as the retail banks up town
are receiving demands 70. money from down
accept new accounts for fear that their new DO
posters might cone around IN TIE morning
Us By 6aynT bonds but am afraid Il Is as
not a Fairchild, Let the Secretary Ak q definite
s Ssr s BUY sd he he should
purchase all the AIS, but as q merchant don't
think he shoald buy obligations # the Govern !,
Be- considered sound policy BY merchants"
DIVIDE THE SURPLUS AMONG THE sTATEsl
York the shsae sss
K the gu sna
strtcting their business, ct least those In my
and they take an il' uniayorabie View q The
future q the money m, market believe IN d.
must reduce the tarin. and the iirst thing to Be
r r st tax C on tobacco and spirits, they
alone bring to the Government $780, 100000
year. The purchase OF bonds by the Secretary
Of the Treasury win give only temporary re-
under our the money
Liberal PURCHASES OF BONDS SUGGESTED.
Col I, r Hogg, President Of the Oregon
commercial, and notwithstanding purposes. Il
VIII sas t. hot
well -known fact that there has not. within the
Rs
trade; MeEchants and manufaeturers, every.
will tell you that the greatest pressure upon
them for money S2mes from merchants and
respondins liberaily 10 these demands is syi-
denced from the state Of their reserves The
y mcssy ST Rs ns q sss
ssflnssasy r S;es.eEias Z part q shls money
Wise me and s01 pos ss' a s
uoduou E0uel. EdtAcE Luhu u uoloy az
tion. and cavil about the price Of the
bonds to be purchased. The few points in the
price saved BY the Treasury Department in It's
purchase of bonds by the delay and Insult
fcieney Of amount purchased is overwhelm-
ingly lost In the present and permanent injury
inflicted upon the commercial, manufacturing,
and general business interests at this period
OF the year. when the demands are coming
from tho West. South, and Southwest for ac-
crops. No action at this time In the way of re-
lief r. positive action against all CON
auired is a substantial evidence on
the part Of the national Administering
the needs Of the commercial and Industrial
interests Of the country In my opinion II this
chase OF bonds promptly BY the see nCa AK Of
1000. 900. and followed by weekly purchases
at q fixed price by the Government for bonds:
This would restore In part the large amount Of
ness circulation by the Treasury, There Is no
party politics In this, but there Is ABUNDANCE
OF national politics in its broadcast sense, be-
cause 1t affects all material industries"